Government is lifting the Lockdown gradually and in step wise manner and now Taxpayers needs to keep a track of GSTR returns. Government has released a new notification with all the GSTR due dates and late fine provisions updates. We have simplified the notification and here you can find all […]
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Finally, GSTR-9 and GSTR-9C for FY 2017-18 Extended – GST UPDATE
Considering the difficulties being faced by taxpayers in filing GSTR-9 and GSTR-9C for FY 2017-18 it has been decided to extend the due dates in a staggered manner for different groups of States to 3rd, 5th and 7th February 2020 as under. Notifications will follow. Group 1: Maharashtra, Karnataka, Goa, […]
Continue readingTax Liability on exporting Goods and Services to Company Aboard from India
Is GST is applicable on client Aborad from Getting serrvice from India? No, service tax was not applicable. GST too is not payable, but if you are registered with GST there is a procedural requirement that you must submit a ‘letter of undertaking’ (form RFD-11 on the CBEC website, or […]
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How to Submit Professional Tax – Karnataka ?
What is Professional Tax?Professional tax is a kind of tax which is levied by state government to all kinds of professions, trades, and employment who are functioning in their states. This tax amount levied monthly or yearly based on the income of such profession, trade and employment. Professional tax determined […]
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How to calculate TDS of an employee ?
What is TDS (Tax Deducted at Source) ? TDS is a medium of collecting Income Tax in India under the Indian Income Tax Act of 1961. According to the Income Tax Act, if any organization or a person is providing salary / payment have to deduct tax at source, it the […]
Continue readingGST returns in 2018: Due dates, requirements, and penalties
Since the introduction of the Goods and Services Tax (GST) on July 1, 2017 , one issue that has continually been in the limelight is returns filing. GST introduced a host of new requirements for returns, and mistakes or noncompliance result in interest and penalties for businesses, as well as […]
Continue readingComply the mandatory compliance for your Company
Comply the mandatory compliance for your Company with the provisions of Companies Act, 2013 Appointment of First Auditor. Preparing and printing Share certificates Quarterly Compliance (After Every 90 Days) Holding the Board Meeting Drafting the notice of Board Meeting Preparing minutes thereof Preparation of attendance sheets of the board meetings, […]
Continue readingHow to Appoint Auditor in Private Limited Company
As per section 139(6) of Companies Act 2013, Private Limited company has to appoint its first auditor within 30 days from the date of incorporation in a board meeting. If the board of directors are not able to appoint then it has to be appointed within 90 days in a general meeting of members. First auditor […]
Continue readingWhat is the ROC compliance for a Private Limited Company?
We have elaborated below some of the ROC Compliances for Private Limited Company has to comply: Receipt of MBP-1 As per Section 184(1) of Company Act 2013 Every Director of the Company in First Meeting of the Board of Director in each Financial Year will disclose his interest in other entities […]
Continue readingHow to Collect TDS & File Returns
What is TDS? TDS is simply Tax Deducted at Source. As per the Income Tax Act – persons responsible for making payments are required to deduct tax at source at prescribed rates. Instead of receiving tax on your income from you at a later date, the govt wants the payers […]
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